Bitter Family Lawsuit at Iconic NYC Steakhouse Ends with $120M Payout

Eater NY | 11/14/2018 | Serena Dai
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The dramatic lawsuit between family members of historic New York steakhouse the Palm has been settled for a whopping $120 million.

The steakhouse — known for its caricature-covered walls — has become a national chain since opening here in 1926, and years ago, two grandkids of founders Pio Bozzi and John Ganzi sued their cousin and his business partner for locking them out of proper profits.

Tuesday - Judge - Favor - Garry - Ganzi

On Tuesday, a judge decided in favor of Garry Ganzi and Claire Breen, demanding that cousin Walter Ganzi Jr. and partner Bruce Bozzi Sr. pay more than $71 million in past royalties and $1.7 million in lost rent. Along with interest and attorney fees, the judgement totaled about $120 million.

Ganzi and Breen were part owners of the original Palm that closed in 2015, and in the 1970s, Ganzi Jr. and Bozzi Sr. created a separate company that owned all the new...
(Excerpt) Read more at: Eater NY
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